Basement Renovation Cost
Have you taken into consideration the possibility to renovate your basement? If the answer to that question is yes, you have probably also wondered about the price of the venture. Finished and renovated basements add value to the house, but not everyone can afford it.
The first thing you should take into consideration is that basement renovation cost varies on the spectrum from $10.000 to $50.000, and in some cases, the price is even higher. How much the renovation will cost depends mainly on a combination of three different factors:
- Room size: logically, the bigger the basement, the more it will cost to renovate it. The average cost to finish a basement is $32 to $47 per square foot, and there are possible discounts you can be qualified for, so take that into consideration when you plan your renovations.
- Place of living: pricing of the house basement will be higher in the big city, but the price will decrease in smaller towns or villages, while the country you live in determines the average cost.
- How extensive the improvements are: basement renovations usually involve lighting, waterproofing, framing, built-in shelving, plumbing, wiring, drywall, HVAC system, egress window, and floors installation. The cost will depend on the processes you'd like to engage with.
A combination of these factors will determine the price of your basement renovation. The value of your house may increase up to 70%, and you'll surely prosper in more ways than one if you decide to invest in this project. The best possible thing you can do is to consult the experts you intend to hire, which is the only way to know the exact price, but knowing and being able to calculate the approximate price sure comes in handy. It makes you prepared and on alert for possible frauds!